As Wall Street was closed for Thanksgiving Day holiday, the focus was once again on the Eurozone. More bad news was received and financial market sank further. Germany’s Chancellor Angela Merkel reiterated her disfavor on Eurobonds while Fitch’s downgraded Portugal’s credit rating to non-investment grade. In the commodity sector, Brent crude rebounded and closed at 107.78. Near-term risk is skewed to the downside, though.
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More Bad News from Europe…
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